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The halving factor!

Bitcoin's current price rally is being largely driven by growing institutional adoption, specifically through exchange-traded funds (ETFs).

Renowned financial companies, such as BlackRock, have expressed interest in launching Bitcoin spot ETFs, creating a significant impact on the markets.

Since June, BlackRock and other large financial institutions have filed applications to launch spot Bitcoin ETFs.

The market's attention is focused on the United States Securities and Exchange Commission (SEC), which has the approval of these funds in its hands.

The market reacts immediately to every movement, as evidenced by the sharp rise in the price of Bitcoin when the BlackRock ETF was listed on the Depository Trust & Clearing Corporation.

Currently, the SEC's decision is awaited on applications from 12 companies to launch Bitcoin spot ETFs.

The approval of these funds is seen as a crucial factor for the future of Bitcoin, with experts such as Michael Saylor predicting a possible increase of up to ten times the current price of the cryptocurrency.

Looking ahead, the scenario for Bitcoin price looks encouraging, especially considering the convergence of factors such as possible ETF approval and the upcoming halving. Although the exact price is difficult to predict, there is a consensus in the financial community that the outlook points towards a bull market in the near future.